Westminster Group PLC (AIM:WSG) shares soared in Tuesday’s early deals after signing a 15+ year contract to provide security services at four airports in Gabon.
The contract, which includes three international airports and one domestic airport, is expected to generate $5.5 million in the first 12 months.
Westminster said it will invest in and upgrade security infrastructure, including advanced detection, surveillance, and screening equipment. It will also provide maintenance, training, and support services to ensure compliance with international security standards.
"Gabon, situated on the Atlantic coast of Central Africa, has one of the highest per capita incomes in Africa and became a member of the British Commonwealth in 2022,” chief executive Peter Fowler said in a statement.
“I look forward to Westminster having a long-term presence in the country and in playing our part in the successful growth and security of the country's airports.”